Barclays Reiterates Buy Rating for BlackRock (BLK)

Barclays reaffirmed their buy rating on shares of BlackRock (NYSE:BLK) in a report issued on Thursday.

Several other analysts have also recently commented on BLK. Zacks Investment Research cut BlackRock from a hold rating to a sell rating in a research report on Tuesday, January 8th. Keefe, Bruyette & Woods reiterated a buy rating and set a $472.00 price target on shares of BlackRock in a research report on Wednesday, January 9th. Wells Fargo & Co reiterated a hold rating and set a $410.00 price target (down from $440.00) on shares of BlackRock in a research report on Tuesday, January 8th. Jefferies Financial Group reiterated a hold rating and set a $427.00 price target on shares of BlackRock in a research report on Wednesday, January 9th. Finally, Morgan Stanley lowered their price objective on BlackRock from $514.00 to $489.00 and set an overweight rating on the stock in a research note on Friday, January 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $513.08.

Shares of BLK opened at $397.91 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.07 and a quick ratio of 3.07. BlackRock has a one year low of $360.79 and a one year high of $594.52. The company has a market cap of $63.11 billion, a P/E ratio of 17.61, a PEG ratio of 1.39 and a beta of 1.43.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, October 16th. The asset manager reported $7.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $6.93 by $0.59. BlackRock had a return on equity of 13.72% and a net margin of 39.92%. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the previous year, the business earned $5.76 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities analysts predict that BlackRock will post 27.63 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 26th. Shareholders of record on Friday, December 7th were paid a dividend of $3.13 per share. This represents a $12.52 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Thursday, December 6th. BlackRock’s dividend payout ratio (DPR) is currently 55.40%.

In other news, Director J. Richard Kushel sold 2,100 shares of the company’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $419.11, for a total value of $880,131.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William E. Ford purchased 2,000 shares of the firm’s stock in a transaction dated Monday, October 22nd. The stock was acquired at an average cost of $395.21 per share, for a total transaction of $790,420.00. Following the purchase, the director now owns 9,466 shares in the company, valued at $3,741,057.86. The disclosure for this purchase can be found here. Insiders own 1.75% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Highwater Wealth Management LLC acquired a new position in BlackRock during the 4th quarter worth about $41,000. Moody National Bank Trust Division lifted its stake in BlackRock by 73.9% during the 4th quarter. Moody National Bank Trust Division now owns 200 shares of the asset manager’s stock worth $78,000 after acquiring an additional 85 shares in the last quarter. Truvestments Capital LLC acquired a new position in BlackRock during the 3rd quarter worth about $116,000. Canton Hathaway LLC acquired a new position in BlackRock during the 3rd quarter worth about $146,000. Finally, Legacy Advisors LLC lifted its stake in BlackRock by 79.8% during the 3rd quarter. Legacy Advisors LLC now owns 338 shares of the asset manager’s stock worth $159,000 after acquiring an additional 150 shares in the last quarter. 82.43% of the stock is currently owned by institutional investors and hedge funds.

About BlackRock

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.

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